UK inflation jumps to eight-month high ahead of BOE decision

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UK inflation jumps to eight-month high ahead of BOE decision - Business Mirror

Quick Summary:

UK inflation rose to an eight-month high in November, drifting further above the Bank of England’s 2% target and effectively ending any hope of an interest rate cut at its final meeting of the year.

That’s up from a 25 percent chance on Tuesday but still far below the 90 percent implied probability seen earlier this week.

The market is betting on two quarter-point cuts and sees a roughly 40 percent chance of a third reduction by the end of 2025.